Banks cautious over lending for properties with underground storage tanks may finally see a regulatory impediment drop as the EPA closes in on eliminating some of the liability responsibilities from lenders holding secured interests in those properties. The rule, expected to be finalized midway through 1995, would make it safer for secured lenders to hold a security interest in properties containing underground storage tanks--USTs--and avoid environmental cleanup liability by broadening a limited exemption in the Resource Conservation and Recovery Act.

The rules comment period expired Aug. 12 and EPA sources said it should become final in August 1995. It was originally published in the Federal Register June 13.

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